YPSILANTI, Michigan (Reuters) – Bruce Rasher runs the third-largest portfolio of industrial property in the United States, but with holdings made up of unwanted plants that General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) got rid of during its 2009 bankruptcy, he will need a great deal of patience to sell them all.
The redevelopment director of the Racer Trust and his team were charged with selling 89 former GM buildings in 14 states, using $770 million in federal funding for environmental cleanup and upkeep. However, getting top dollar is not the only requirement: the former real estate executive and small-town Michigan mayor is also charged with creating jobs.
By Ben Klayman
(Reuters) – U.S. safety regulators have intensified a probe into possible driver-side door fires in some 2006 and 2007 model-year Chevrolet Trailblazer sport utility vehicles.
The National Highway Traffic Safety Administration said its investigation was raised to an engineering analysis from a preliminary investigation after General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), which owns the Chevy brand, sent the agency data showing 167 reports and 698 warranty claims relating to the issue.
FRANKFURT/DETROIT, June 13 (Reuters) – General Motors’
European unit Opel is negotiating a deal with labor
unions to close the Bochum plant after production of the Zafira
Tourer van ends in exchange for guaranteeing German jobs through
Opel’s management, the IG Metall trade union and the works
council representatives of the German plants will continue talks
in the coming weeks to reach an agreement over job cuts, a
freeze in wage hikes, building a wider range of models and a
deeper expansion into export markets.
DETROIT (Reuters) – General Motors Co’s (GM.N: Quote, Profile, Research, Stock Buzz) chief executive said on Tuesday the U.S. automaker was in “constructive” talks with unions in Germany about its plants there, but declined to address the fate of a factory many analysts expect will eventually be closed.
“We are in discussions with our German unions and others throughout Europe,” CEO Dan Akerson told reporters before GM’s annual shareholders meeting. “They’re constructive, they’re professional, and it’s our hope and expectation that we’ll come to some sort of mutual understanding.”